Energy Market Analysis – 15-03-2019

Gas prices displayed further losses yesterday, with increases on coal, carbon and power markets having little impact. LNG send-outs remained strong with 4 more deliveries expected to dock in the UK over the weekend, while oil eased down in the afternoon, weighing on some far-curve contracts.

Power prices displayed mixed movement on Thursday with a drop in gas weighing on some contracts, while stronger coal and carbon supported others. A mild and windy weather outlook failed to have much control over the prompt which ended the session almost unchanged.

Market Open

Market Open

The UK gas system is oversupplied this morning as demand levels have decreased and supply is healthy. However, despite the long system, prices are almost unchanged as bullish resistance has been provided by a rise in other energy markets.

Fuel markets are on the rise this morning, with the exception of gas which has seen the majority of power contracts open higher. Weak gas prices should result in more gas-fired power generation this summer, despite increased renewable capacity, limiting the need for coal.

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